Politics

Published 03 July 2017

As tiresome as it might be, it is hard to get off the topic of national politics at the moment.  Every day Parliament serves up new drama and a kaleidoscope of uncertainty. On the Conservative side, last week brought U-Turns on flagship economic policy led by Cabinet ministers, not the Prime Minister.

The Queen’s Speech

Published 26 June 2017

The Government hangs by a thread and Brexit will dominate the legislative agenda, but four new bills and Jeremy Corbyn will ensure that credit also looms large in parliamentary debate. After a week’s delay and much conjecture about its contents, Her Majesty finally delivered a ‘filleted’ Queen’s Speech on Wednesday.

FOS

Published 19 June 2017

On the industry front, the big news of last week was FOS’s annual figures for 2016-17.  You can see these in full here. They show an 89% increase in complaints about ‘consumer credit products and services’ from just under 14,000 in 2015/16 to 26,000 in 2016/17.

The New Parliamentary Intake

Published 19 June 2017

Jeremy Corbyn’s unexpected surge in the polls has certainly shaken up the national picture, but it has also changed the face of the House of Commons in ways we didn’t expect.  There are a number of firsts. It is the most diverse House of Commons ever with a rise in the number of women, LGBT and ethnic minority MPs elected.

Politics Update – Monday 19 June 2017

Published 19 June 2017

There is very little that’s certain in our national politics at the moment.  Parliament is hung; Theresa May’s premiership hangs by a thread; a week into negotiations and she has yet to strike a ‘confidence and supply’ deal with the DUP.

Landslide to Landslip

Published 12 June 2017

Strong and stable has not been delivered by the Conservatives, but unsteady and unstable has. At a time when business in all sectors needs a steadying influence as we approach BREXIT, politicians of all hues need to do the right thing, rather than choose political expediency.

Choppy Political Waters Ahead for the Credit Industry

Published 31 May 2017

In the first of our new CCTA Podcasts, I talk politics with two Westminster heavyweights — The Spectator magazine’s Political Editor, James Forsyth, and former special adviser to both Tony Blair and Peter Mandelson, Patrick Diamond.

Need for Responsible Credit Grows Dramatically in FCA Authorisation era 

Published 31 May 2017

The need for responsible, fair and transparent short-term credit could be at its greatest ever, as household debt looks set to increase to £15,000 by 2020. Such an increase would mean that access to responsible credit from FCA regulated companies would be essential for many hard-working individuals and families that are just about managing from month to month.

CCTA Taking the Fight to the Politicians

Published 30 May 2017

At a time of major change in both national politics and amongst the trade bodies representing the credit industry, it is essential that businesses have an association capable of fighting their corner in Westminster.  Hence, CCTA is raising its game and doing much more to engage politicians and opinion-formers on behalf of members during the new Parliament from 9 June.

Thatcher is Dead! Long Live the State!

Published 18 May 2017

WHAT TODAY’S CONSERVATIVE MANIFESTO MEANS FOR THE CREDIT INDUSTRY The result of the election seems a foregone conclusion. But manifestos are important nonetheless, not only for the specific policy commitments they contain, but as indicators of the tone and nature of the political debate to come over the next 5 years.

Leaked Labour Manifesto – implications for the credit industry

Published 11 May 2017

A draft copy of the Labour party’s election manifesto was leaked to three national newspapers last night. Leaving aside who might be responsible, what their motivations might have been and what it says about the state of the Labour Party, it gives us a very good idea what our industry can expect if Jeremy Corbyn should will power on 8 June.